Jazeera Airways agree financing for initial four aircrafts

The facility includes pre-delivery payment and aircraft financing against the four aircrafts and spare engines.

"We are delighted to have concluded one of the largest financing transactions in Kuwait this year. After lengthy negotiations with a number of international and regional banks and syndicates, Jazeera Airways is very pleased to have secured the support of DVB Bank and Natexis, two of the world's leading aviation finance banks. We are also delighted to be supported locally by Kuwait Finance House which is developing an impressive and ever growing aircraft business portfolio" said Marwan Boodai, Chairman of Jazeera Airways.

Wolfgang Driese, CEO of DVB Bank, Christian McCormick, General Manager of Natexis Transport Finance and Jassar D. Al Jassar, General Manager of Kuwait Finance House say "All three banks are delighted to have worked together and are very proud of having been given the opportunity by Jazeera Airways to play an important part in one of the most exciting aviation projects of the year. We look forward to a continued excellent relationship with Jazeera Airways in the future.'

Jazeera Airways will take delivery of its first two Airbus A320 aircraft in October and November 2005, with two further aircraft delivering in 2006. All the aircraft come with leather seats and state-of-the-art inflight audio and video, featuring the latest 3D air show, music, news, entertainment and movies. With safety as its number one priority, Jazeera Airways aircraft will also feature the latest avionics, ensuring not only that its customers are on one of the most comfortable aircraft in the Middle East, but also the safest. The newly established Kuwaiti airline will initially provide flights from this coming October between Kuwait and Dubai, Beirut, Bahrain Damascus, Amman, Cairo, Luxor, Alexandria and Jeddah.